Market Turmoil Continues

Major US stock exchanges faced a severe downturn on Thursday, erasing the significant gains achieved during yesterday's historic surge. This volatility comes in the wake of President Donald Trump's announcement of a 90-day suspension on global reciprocal tariffs, with China notably excluded from this reprieve.

Escalating Trade War with China

White House officials have disclosed that the aggregate tariff rate imposed on Beijing has now soared to 145%. This staggering figure is the result of combining the newly enacted 125% duty on goods with the pre-existing 20% rate, the latter imposed in response to the fentanyl crisis.

Market Figures at a Glance

By 11:50 am ET, the Dow Jones had tumbled 1,402 points, marking a 3.44% decline. Shortly thereafter, the Nasdaq 100 and the S&P 500 experienced drops of 4.61% and 4.07%, respectively. Meanwhile, the euro strengthened against the dollar, trading 2.49% higher at 1.12216.